CNPC inks RMB 2.08-bln deal with UAE's NDC

Oct. 9, 2009 (China Knowledge) - Baoji Oilfield Machinery Co Ltd, a device manufacturer belonging to China National Petroleum Corp, has signed a supply contract worth RMB 2.08 billion with the UAE's National Drilling Co, a subsidiary of Abu Dhabi National Oil Co, sources reported.

According to the contract, the first contract ever signed by a Chinese oil firm with NDC, BOMCO will design, manufacture and install 12 oil rigs for its partner in the period from May 2010 to November 2011.

Zhang Caihong, a group manager of BOMCO, said that the firm was chosen in preference to 13 global oil equipment producers because of its high quality products and wealth of cooperative experience with overseas firms.

Reportedly, British BP Plc and CNPC on Thursday signed an initial agreement with Iraq's oil ministry to develop Iraq's Rumaila oil field, which will require an estimated US$15 billion in investment.